Journal of Distribution Science (유통과학연구)

Korea Distribution Science Association (한국유통과학회)
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Distribution Strategy & Competitiveness on Marketing Performance of Sm all Industries in Bali

  • SUASANA, Igakg (Faculty of Economics and Business, Udayana University) ;
  • SUPARTHA, Iwg (Faculty of Economics and Business, Udayana University) ;
  • GIANTARI, Igak (Faculty of Economics and Business, Udayana University) ;
  • SUKAATMADJA, Ipg (Faculty of Economics and Business, Udayana University)
  • Received : 2021.05.05
  • Accepted : 2021.08.05
  • Published : 2021.08.30
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Abstract

Purpose: This study aims to explain the effect distribution strategy and competitiveness of entrepreneurial personality on marketing capabilities and performance, the effect of marketing capabilities on marketing performance, the role of marketing capabilities as a mediating variable on the effect of entrepreneurial personality on marketing performance, and the role of credit access moderating effect of entrepreneurial personality on marketing capabilities and performance. Research design, data, and methodology: This research was conducted in Bali, on a small clothing industry. The sample size was set at 150 respondents, using a cluster random sampling approach. Data were analyzed using descriptive analysis techniques and partial least square. Result: The findings show that; entrepreneurial personality and marketing capabilities have a significant effect on marketing performance, entrepreneurial personality has a significant effect on marketing capabilities. Another result shows that marketing capability mediates the effect of entrepreneurial personality on marketing performance, access to credit acts as a moderating predictor, and as quasi moderating the effect of entrepreneurial personality on marketing performance. Conclusions: Entrepreneurs should try to increase their knowledge and skills in marketing formally or informally. Competence in terms of individual knowledge and skills can indicate social capital investment, which indirectly contributes to one's mindset and insight.

Keywords

1. Introduction

Small industry empowerment is an international issue. It is implied that small industry employs a maximum number of 19 workers and has an investment value of less than one billion rupiah, excluding land and buildings for business premises (Kantor Menteri Perindustrian, 2016). Small industry is also not immune from various obstacles that hinder its development. Small Industry needs to build a good distribution strategy and competitiveness because its constraints generally stem from internal factors, namely entrepreneurial personality and external factors related to markets and sources of business funding.

The strength of small companies is centered on the competence of the owner / manager, in terms of innovation, proactivity, and risk taking (Miller, 1983). Lee and Hsieh (2010); Vicente, Seabra and Antunes (2015). Entrepreneurial personality is the typical abilities, motives, attitudes and values that shape the experiences and actions of entrepreneurs, as a cause for mental processes and individual behaviour (Chell, 2008; Kerr, Kerr, & Xu, 2017; Vodă & Florea, 2019). In line with this understanding, Soto (2018) states that personality traits are patterns of thought, feeling, or behaviour that tend to be consistent over time and in all relevant situations. Several studies on entrepreneurial personality are closely related to the implementation of business practice tasks to achieve successful performance (Hatta, 2015; Wekesa, Maalu, Gathungu, & Wainaina, 2016). The reaction of the entrepreneurial personality / entrepreneur will be significant if it is related to the success of small businesses (Abdulwahab & Al-Damen, 2016; Urban & Sefalafala, 2015). An entrepreneur's reaction to business success is different according to the basic concept of his personality. This shows the competence of entrepreneurs in implementing consistent business strategies (Soejono, Mendari, & Rinamurti, 2015; Jelenc, Pisapia, & Ivanusic, 2015). These reactions ultimately contribute to actions that respond to scenarios of an unstable market environment (Behling & Lenzi 2019).

Entrepreneurial personality is important in the capabilities and scope of competition, and has a direct effect on marketing performance (Yoon, Kim, & Dedahanov, 2018). Small companies are considered to gain advantage through developing marketing mix capabilities with strong market support (Haniff, Halim, & Manaf, 2016). Among the dimensions of the existing entrepreneurial personality, innovation problems have the biggest role in influencing marketing capabilities and performance (Haniff et al., 2016). An entrepreneur can be creative in various marketing activities through periodic innovation, to adapt to market changes.

Several researchers show inconsistent results, and this is also one of the research gaps in this study Kerr et al., (2017). Small entrepreneurs are less willing to take risks, so that they have a negative impact on the performance of the products they produce (Rezaei & Ortt, 2018). Limited business networks are also often a problem for small businesses, so that opportunities to improve marketing capabilities and performance cannot be controlled properly (Setyawati, Suroso, & Adi, 2020). Small entrepreneurs are less willing to take risks, so that product quality decreases (Yang & Ju, 2017).

The relevant marketing strategy considered in the marketing mix capabilities is the basic marketing mix strategy, which is better known as "4Ps" (Vorhies & Morgan, 2005; Morgan, Feng, & Whitler, 2018). The marketing mix is a set of marketing tools that companies can use continuously to achieve marketing goals in target markets (Kotler & Keller, 2016). The marketing mix is a marketing tool that can provide important insights to companies about strategies to create added value for customers and competitive advantage (Edwards, Ketchen, Short, & Try, 2014). The marketing mix strategy can reveal the consistency of the development of marketing mix capabilities at the functional and operational levels of all industries (Santos-Vijande, Sanzo-Pérez, Gutiérrez, & Rodríguez, 2012). A large gap was found between small industries that can access credit up to two times, compared to those that can access more than 10 times (Paramita & Indarwati, 2020). Obstacles that often hinder small industries from accessing credit are; not bankable, do not have special skills, or are not aware of alternative sources of financing that can be utilized (Deo, 2013). The decision of entrepreneurs as borrowers also tends to be affected by access constraints caused by their ability to meet credit requirements (Oktavianti & Hakim, 2017). These obstacles are generally related to asymmetric information about requirements and financial literacy in small industries (Lusimbo & Muturi 2016; Ramadhanti, Kurniawan, Mukhrodin, & Setiyawati, 2019; Hamilton, Papageorge, & Pande, 2019).

The performance of small industries tends to decline if leverage with external sources is higher, so it is recommended to reduce this effect in order to increase capability (Palacios, Carrillo, & Guzmán, 2016). The concept of capital structure also states that healthy spending must be built on the basis of own capital. The amount of loan capital in a company and under any circumstances should not exceed the amount of its own capital (Modigliani & Miller, 1958). This phenomenon proves that access to credit is not necessarily an attractive offer, if it cannot be functioned and managed properly by small industry entrepreneurs.

2. Literature Review and Hypothesis

2.1. The effect of Entrepreneurial Personality on Marketing Performance

Soejono et al. (2015) states that entrepreneurial personality is a very significant factor in determining the performance of small industries. This is also revealed from the findings of Hatta (2015); Wekesa et al. (2016), that entrepreneurial personality is closely related to the implementation of business practice tasks of entrepreneurs, to achieve successful performance. The reaction of the personality of an entrepreneur/entrepreneur will be significant if it is associated with the success of a small industry (Abdulwahab & Al-damen, 2016; Soejono et al., 2015; Urban & Sefalafala, 2015). The way how an entrepreneur reacts and is adapted to the basic concept of personality, can describe his ability to implement various appropriate and consistent business strategies (Soejono et al., 2015; Jelenc et al., 2015). This reaction is stated to be able to contribute to the actions of entrepreneurs to respond to an unstable market environment scenario (Hatta, 2015; Behling & Lenzi, 2019).

Small companies will also gain an edge with strong market support (Haniff et al., 2016). The application of a proactive and market-oriented strategy can generate a competitive advantage for the company (Do & Nguyen, 2020). Handoyo (2015) concluded that entrepreneur innovation is able to positively affect marketing performance, specifically, Yang and Ju (2017) show that innovation, independence, proactiveness, and competitive aggressiveness have an effect on product quality.

H1: Entrepreneurial personality has a positive and significant effect on marketing performance

2.2. Effect of Marketing Capability on Marketing Performance

Marketing capabilities are needed to combine, manage, and exploit resources in order to be able to provide added value and create market advantages (Edwards et al., 2014; Kotler, Armstrong, & Opresnik, 2018).

A marketing strategy that should be considered is the basic marketing mix strategy, which is better known as the 4 "Ps" (Morgan et al., 2018) . The meaning is the ability to manage the right marketing strategy, showing more effective innovation results for better marketing performance (Wekesa et al., 2016; Rajapathirana & Hui, 2018) . Marketing mix strategy is one of the main concepts in modern marketing strategy, which consists of; strategies in the areas of product, price, promotion and distribution (Rezaei & Ortt, 2018).

Empirical studies that link between capabilities and marketing performance find that marketing capabilities have a significant effect on marketing performance (Adeola, Olufemi, Jubril, & Peter, 2015).

H2: Marketing capability has a positive and significant effect on marketing performance

2.3. The Influence of Entrepreneurial Personality on Marketing Capability

Entrepreneurial individual competence, which is formed from his personality, is an internal resource and a determining factor for small industrial business activities (Kerr et al., 2017).

Several previous studies found that personal qualities and traits, such as; innovation, risk taking, proactiveness, internal locus of control in competition, are factors that determine the success of small industry businesses (Soto, 2018; Vodă & Florea, 2019). Entrepreneurial personality has a significant influence on marketing capabilities. A better personality, leads to an increase in marketing competence, and will ultimately affect marketing performance (Setyawati et al., 2020). Innovativeness, risk taking, proactiveness, and locus of control are indeed dominantly able to determine marketing capabilities (Hatta, 2015; Yang & Ju, 2017). Similar results were also found by Sajilan, Hadi, and Tehseen (2015) which states that innovation capabilities in marketing capabilities are more important for competing companies (Yang & Ju, 2017; Rezaei & Ortt, 2018).

H3: Entrepreneurial personality has a positive and significant effect on marketing capability.

2.4. Marketing Capability as A Mediator on the Influence of Entrepreneurial Personality on Performance

This capability allows small-scale industries to form marketing capabilities through the practice of innovative, proactive, and risky marketing strategies in a dynamic market (Edwards et al., 2014; Salisu, Abu-Bakr, & Rani, 2017). Low marketing capabilities can have a negative impact on marketing performance, and vice versa (Saleh-M, 2015). Marketing capability is a strong intermediary for competitive marketing performance (Saleh-M, 2015; Qureshi, Aziz, & Mian, 2017; Adeola et al., 2015) . Small clothing industries will have more opportunities to have better marketing performance, if they have the capability of an effective marketing strategy (Daniel, 2018).

In this study, the strategy considered in marketing capability is the basic marketing mix strategy, which is better known as the 4 "Ps" (Vorhies & Morgan, 2005; Morgan et al., 2018). Marketing mix is a set of marketing tools used to achieve company goals in the target market (Edwards et al., 2014; Kotler & Keller, 2016). Marketing mix strategy as the main concept in modern marketing strategy consists of; strategies in the areas of product, price, promotion and distribution, aimed at achieving performance in the market (Rezaei & Ortt, 2018).

Marketing capabilities are able to deliver entrepreneurial personalities to get better company performance (Pratono & Mahmood, 2015). Product strategy does affect the company's performance, it is recommended that business organizations pay attention to the elements of this strategy by designing marketing strategies that are driven by good individual competencies (Pascal & Shin, 2015). Pratono and Mahmood (2015) also stated that marketing capability has a full mediating effect in changing entrepreneurial orientation to get better performance.

H4: Marketing capability acts as a mediating variable on the effect of entrepreneurial personality on marketing performance.

2.5. Access to credit as a moderator of the influence of entrepreneurial personality on marketing capabilities

The gap model of the moderating effect of credit access is proposed based on the literature, which shows that access can moderate the relationship between market orientation, entrepreneurial orientation, capability and small business performance (Sa'id, Talib, & Hassan, 2019), positioned social capital (network to gain access to resources) as a predictor, and personality was placed as a moderator of the relationship between social capital and firm performance.

The study conducted by Khan and Anuar (2017) concluded that access to finance significantly moderates the relationship between entrepreneurial personality, capabilities and financial performance of small businesses. Researchers suggest to include and investigate moderating variables on the influence of small business entrepreneurial competence (Esubalew & Raghurama, 2020).

H5: Access to credit acts as a mediating variable of the effect of entrepreneurial personality on marketing capabilities.

2.6. Access to credit as a moderator of the influence of entrepreneurial personality on marketing performance

The effect of access to financial institutions on business growth will increase, when microfinance is maximized and there is no problem of stagnation due to owner isolation from external financing (Ye & Kulathunga, 2019).

Inclusive finance directly affects small business performance, and is indirectly mediated by credit access intermediation (Ratnawati, 2020). The direct effect is intended as an effort to increase access to credit financing for small businesses that can increase market share, sales, and profits (Esubalew & Raghurama, 2020). Based on this description, the sixth research hypothesis is proposed:

H6: Access to credit acts as a mediating variable of the effect of entrepreneurial personality on marketing performance.

3. Research Methods and Materials

This research is a quantitative study, using a causal explanatory design (Creswell, 2010:5). Analysis and testing of the indirect effects of variables, which are commonly known as moderating effects, were also carried out in this study (Preacher, Rucker, & Hayes, 2007). The research was conducted in Bali, on small industry engaged in the small clothing industry sector. Until 2019, there were 15,884 small industries, which are scattered in districts / cities in Bali. In this study, the target population elements are all small clothing industries in Bali that have used or are currently using credit capital facilities. The population of small clothing industries in Bali until 2019 was recorded at 1,999 (12.59 percent) of the total small industries. Referring to the Raosoft sample size calculator approach, the sample size considered to be in accordance with 1999 population elements is 150 units, at a confidence level = 0.90 and a margin of error = 0.65. The data is collected using google form, disseminated through the social media accounts of entrepreneurs / managers representing their respective businesses. The collected data were analyzed using descriptive and inferential analysis techniques, and the data analysis process used the Smart-PLS program.

4. Results and Discussion

For This Most entrepreneurs of the small clothing industry in Bali are between 25-50 years old, 27.3 percent are less than 25 years old, and the remaining 20.7 percent are more than 50 years old. Statistically, it is illustrated that most entrepreneurs of the small clothing industry have reached maturity in their work. Older workers should have a stronger work ethic, lots of skills, and knowledge that can be shared with younger colleagues. Business locations in rural areas implicitly indicate difficulties in accessing markets and funding, due to inadequate public facilities / infrastructure to support company activities. One of the common obstacles experienced is related to information and communication technology facilities. 74.7 percent the small clothing industry in Bali already have complete (formal) business legality, and the rest (25.3 percent) are incomplete (informal). Most of the business ownership status (92 percent) was self-owned and only eight percent belonged to the group.

Hypothesis testing in this study is based on a significance level of 0.05, and a two-sided test so that the t-table is 1.96. In detail, testing the results of the analysis of this study is described as follows.

OTGHB7_2021_v19n8_101_f0001.png 이미지

Figure 1: PLS Result

Table 1: Specific Indirect Effects: Mean, STDEV, T-Values, P-Values

OTGHB7_2021_v19n8_101_t0001.png 이미지

Table 2: Total Effects: Mean, STDEV, T-Values, P-Values

OTGHB7_2021_v19n8_101_t0002.png 이미지

Table 3: Summary of Direct, Indirect, Total Effects and Nature of Mediation

OTGHB7_2021_v19n8_101_t0003.png 이미지

Based on table 2, the effect of entrepreneurial personality on the marketing performance of the small and clothing industry in Bali. Based on the results of statistical tests it is proven that the direct relationship between entrepreneurial personality and marketing performance of the small clothing industry in Bali is significant. This result implies that the better the entrepreneurial personality is able to improve the marketing performance of the small clothing industry in Bali. So, the personality traits of an entrepreneur / entrepreneur, in the form of; innovativeness, productivity, risk-taking ability, and better internal control locus have been proven to increase sales turnover, sales volume and market share of the small clothing industry in Bali.

Entrepreneurial personality has been recognized as one of the antecedents of marketing mix capabilities that are widely used in business studies and practices (Morgan et al., 2018; Al-Mamun & Fazal, 2018). Kerr et al. (2017); Vodă and Florea (2019) also illustrate that the entrepreneurial personality shows a unique ability, motive, attitude and value that shape the experiences and actions of entrepreneurs, as the cause of mental processes. and individual behavior. The results of this study support the research results of Sajilan et al. (2015); Yoon et al. (2018) which states that successful entrepreneurs are unique individuals who describe individual behavior as an important determinant of company success. Sarwoko (2013) concluded that companies that invest in individual factors and have a more positive entrepreneurial personality tend to be more able to compete independently and are more likely to be successful. Lee and Hsieh (2010); Soejono et al. (2015) stated that entrepreneurial personality in the form of direct innovation, initiative, risk taking, and locus of control was found to be a very significant factor and able to effect marketing performance. Entrepreneurial personality, according to Hatta (2015) and Wekesa et al. (2016) were found to be very closely related to the implementation of business practice tasks for the company's successful performance. Among the dimensions of entrepreneurial personality, it turns out that innovation problems are found to have the biggest role in influencing marketing performance (Haniff et al., 2016). Small companies according to Miller (1983) try their best to adapt to their environment by emphasizing strength-based expertise and communication. Entrepreneurs who react according to the basic concepts of their entrepreneurial personality are stated to be able to describe competence in implementing consistent business strategies to respond to scenarios of an unstable market environment (Jelenc et al., 2015; Behling & Lenzi, 2019). Similar results were also found by Abdulwahab and Al-damen (2016) and Urban and Sefalafala (2015).

Based on the results of statistical tests, the effect of entrepreneurial personality on the marketing mix capabilities of the small and clothing industry in Bali. proven that the direct relationship between the entrepreneurial personality and the marketing mix capabilities of the small clothing industry in Bali is significant. This condition is a challenge in itself for the small clothing industry in Bali, because innovation in the marketing sector can have a significant effect on the capabilities of the marketing mix (Handoyo, 2015). The results of this study support the research results of Haniff et al. (2016) who found that among the dimensions of entrepreneurial personality, innovation problems were found to have the biggest role in influencing the marketing mix capabilities. This entrepreneurial personality is stated to be indeed important in efforts to foster capabilities in a competitive environment (Yoon et al., 2018). Previously, it was also explained that the implementation of business practice tasks to achieve success requires innovative, proactive, risk-taking characteristics and a good internal control locus (Hatta, 2015; Wekesa et al., 2016). Abdulwahab and Al-damen (2016), Soejono et al. (2015), and Urban and Sefalafala (2015) also state that business success is closely and significantly related to the personality of the entrepreneur / entrepreneur.

Based on the results of statistical tests the effect of marketing mix capabilities on the performance of small and clothing industry marketing in Bali, proven that the direct relationship between the marketing mix capabilities and the marketing performance of the small clothing industry in Bali is significant. This result implies that the better marketing mix capabilities are able to improve the marketing performance of the small clothing industry in Bali. This condition is very reasonable, if it is related to its product strategy, the small clothing industry in Bali places more emphasis on product quality and ingredients, rather than brand strategy and product variants. This is in line with the profile of the small clothing industry in Bali, which concentrates its strength on the handicraft business as a support for the tourism sector. This condition reflects the limited resources of individuals and organizations. Morgan (2011) has explicitly described that resource competency indicates a firm's specific ability to build, develop and maintain a marketing strategy. The results of this study support the research results of Morgan, Vorhies, and Mason (2009), that the marketing mix capability has a direct effect on the company's earnings and margin growth rate. Hatta (2015); Saleh-M (2015); Qureshi et al. (2017); Adeola et al. (2015) stated that marketing mix capability is a positive strong predictor for improving marketing performance. Where, the ability to manage the right marketing strategy, provides more effective innovation results for better marketing performance (Wekesa et al.,2016; Rajapathirana & Hui, 2018). Marketing mix capability is an important business practice-based factor in the transformation of skills and resources for business growth (Liu, Eng, & Takeda, 2015; Saleh-M, 2015). Salisu et al. (2017) stated that small-scale industries tend to be able to carry out business practices innovatively and implement new processes in a dynamic market, if supported by marketing mix capabilities.

The test results of direct effect, indirect effect, and total effect between entrepreneurial personality and marketing performance of the small clothing industry in Bali prove that the marketing mix capability acts as a mediating variable. The marketing capability of the small clothing industry in Bali is not the only factor that mediates the relationship between entrepreneurial personality and marketing performance. In line with Baron and Kenny (1986) which states, when in the direct relationship pathway with mediation there is still a residual (not zero), then this indicates the role of several other factors as mediation.

Kotler and Keller (2016); Kotler et al. (2018) state that capability is a company's ability to transform internal and external resources into a sustainable competitive advantage. Theoretically, at least two environmental factors have been shown to play a role in determining marketing performance, namely Resource-Based View (RBV) and Market-Based View (MBV). RBV focuses on internal factors that are the company's fundamental variables and performance (Grant, 1991), while MBV is more concerned with corporate strategy to effect industry performance (Porter, 1998). Following the opinion of Saleh-M (2015); Qureshi et al. (2017); Adeola et al. (2015); Daniel, (2018); Edwards et al. (2014:127) stated that marketing practices will develop into capabilities and then act as a strong predictor of marketing performance, but the success of its implementation depends on how the company applies its marketing knowledge and skills to meet market needs (Day, 1994; Tan & Sousa, 2015). The orientation of the marketing mix strategy in practice has a different effect on the capabilities of the marketing mix to achieve superior marketing performance (Pascal & Shin, 2015). Similar views from Kerr et al. (2017) stated that the marketing mix strategy that forms marketing mix capabilities tends to be stronger if it is supported by an excellent entrepreneurial personality.

The results of this study support the findings of Pascal and Shin (2015) stated that entrepreneurial personality has a direct and indirect effect (through marketing mix capabilities) on the performance of SMEs. Hatta (2015) emphasized that the dominant path is the effect of entrepreneurial personality on marketing capabilities and performance. Pratono and Mahmood (2015) also state that there is a full mediating effect of the marketing mix capabilities in changing the entrepreneurial personality to get better company performance. In the previous section it has been discussed that the small clothing industry in Bali relies more on the resulting product innovation strategy. In line with these conditions, Mohammad, Massie, and Tumewu (2019) stated that product and process innovation is very important in growing the performance of SMEs. Empirically Ahmed, Ibrahim, and Hasaballah (2017); Anim, Agbemabiese, Acheampong, Adams and Boakye (2018); Bamfo and Kraa (2019) concluded that innovation capability as part of company strategy partially mediates the relationship between market orientation and business performance of the fashion industry in Ghana.

Based The results of statistical tests show that access to credit does not act as a moderator in the relationship between entrepreneurial personality and the marketing mix capabilities of the small clothing industry in Bali. In this context, the variable access to credit only plays a role as a predictor variable (independent) of marketing mix capability (Baron and Kenny, 1986). Successful access to credit has implications for broad opportunities for the small clothing industry in Bali, to obtain additional business capital in its efforts to increase the capacity and capability of the company's internal resources (Quartey, Turkson, Abor, & Iddrisu, 2017; Rizal, Suryana, Herawati, Dewanti, & Apriliani, 2017). Efforts to increase these resources are as revealed in research by Kamasak (2017); Liani and Prawihatmi (2017), for example by; adding equipment, manpower, and inventory capacity, and so on.

The small clothing industry ability or understanding of the requirements and financial literacy can show commitment as a debtor. Creditors will trust more creditors with better abilities and financial literacy, so that the opportunity to access bank credit will also be even greater (Rotich, Lagat, & Kogei, 2015; Kibet, Denis, Achesa, & Dedion, 2015; Kimmitt, Scarlata, & Dimov, 2016; Oktavianti & Hakim, 2017). The results show that there are two indicators of credit requirements that score above average.

The results of this study support the findings of Bamps and Schmiemann (2012) state that access to credit is actually not the main factor limiting business growth, but rather market prospects in general. Slightly contradicting Osano and Languitone (2015), where it is said that the constraints of access to credit are not actually an important determinant of a company's capability and performance, but a result of the company's low resource capability Ngo, Tram and Vu (2020) also found that access to formal banking credit is not statistically significant to the marketing mix capabilities. Awaworyi (2014); Alhassan, Hoedoafia, and Alhassan (2016) predict that access to credit is not able to increase asset ownership and business success. The correlation between entrepreneur competence and marketing mix capability variables with interest rates and loan terms was stated by Nguyen, Gan, and Hu (2015); Alhassan et al. (2016) are negative and have the potential to burden the company.

The role of access to credit as a moderator on the effect of entrepreneurial personalities on the marketing performance of small and clothing industries in Bali. The results of the statistical test of access to credit as moderating are interpreted as strengthening the effect between entrepreneurial personality and marketing performance of the small clothing industry in Bali. The moderating nature of access to credit in this study is stated as a quasi moderation variable. In this study, access to credit partially or partially moderates the relationship between entrepreneurial personality and marketing performance the small clothing industry in Bali.

Stefani and Vacca (2017) explains that easy access to credit is very important for small businesses as a driver of employment, growth and business innovation in Europe, meanwhile, financial literacy is human capital which has implications for the ability and confidence of individuals to use their financial knowledge in making decisions (Huston, 2010). The ability of these small entrepreneurs leads to an increase in the quality and efficiency of decision making to overcome constraints on access to credit (Nguyen, Gan, & Hu, 2015).

Turyakira, Kasimu, Turyatunga, and Kimuli (2019) also emphasized that access to finance, capabilities and company performance are positively related, where access to finance is the most influential factor in predicting performance compared to capability. The elements of access to credit, as well as elements of entrepreneurial development programs were found to have clear effects as mediators of the relationship between credit programs and small industry performance (Mahmood & Rosli, 2013); (Harvie, Narjoko, & Oum, 2013). This means that managers with low financial literacy will record minimal or no business growth (Lusimbo & Muturi, 2016). Chenaa, Maria, and Nkiemboupoh (2018) reveals that guarantee security, credit facility costs and knowledge / awareness of credit procedures have a significant effect on the performance, whether or not the use of banking services is accepted or not, stated by Ngan and Khoi (2020); Osano and Languitone (2015), where it is stated that constraints of access to credit are not an important determinant of company performance, but rather a result of the low capability of company resources. Nguyen et al. (2015) even acknowledged in their research results that evidence of the positive impact of access to credit as the main constraint on the progress of small industries is difficult to find. Lusimbo and Muturi (2016); Myeko and Madikane (2019), also revealed that most small and medium enterprises, do not apply proper recording practices, and do not understand the important role of note-taking for businesses, due to a lack of skills and knowledge. Lusimbo and Muturi (2016) added that most small entrepreneurs do not understand the loan interest rate, are unable to compare terms and conditions of credit received, and have low bookkeeping literacy skills, thus recording minimal business growth.

5. Conclusions

Based on the research findings, entrepreneurs should try to increase their knowledge and skills in marketing formally or informally. Small and clothing industries in Bali should innovate and review the policies on brands and trade shows that have tended to be chosen so far also they need to build a good distribution strategy and competitiveness of their products. Brand is a definite identity, therefore, the small clothing industry in Bali should strive to establish and patent a brand on every product it produces. It is recommended that the small clothing industry in Bali should start thinking about a more aggressive and consistent marketing communication model.

The results of this study would be a valuable reference for future researchers related to entrepreneurial personality, marketing mix capabilities, marketing performance, and access to credit on different subjects. In addition, the model in this study can still be assessed by including other variables, such as the ability to; market environment, market needs, consumer relations, and marketing strategy formulation.

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